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Question
A firm's average variable cost (per unit) is obtained by dividing the total fixed cost by the total variable cost.Answer
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Related questions
Q:
Consumer products that offer truly new ideas that potential customers don't know about yet are new unsought products.
Q:
Emil Flores won't buy any coffee except "Blue Mountain"-a relatively expensive type that few stores sell. He used to have to drive about 10 miles out of his way to buy it at a small shop-but now he has persuaded his local supermarket manager to handle this coffee. For him, this coffee is
A. an emergency product.
B. a specialty product.
C. a staple product.
D. an unsought product.
E. a heterogeneous shopping product.
Q:
A consumer product that a customer really wants-and is willing to make a special shopping effort to find-is
A. a staple product.
B. a convenience product.
C. a heterogeneous shopping product.
D. a specialty product.
E. an emergency product.
Q:
___________ shopping products are products that the customer sees as basically the same and wants at the lowest price.
A. Regularly unsought
B. New unsought
C. Specialty
D. Unsought
E. Homogeneous
Q:
Comment cards are generally used to measure:
A. customer satisfaction.
B. product perishability.
C. employee productivity.
D. advertisement TRPs.
Q:
Given the American economy's basic objective of meeting consumers' needs as THEY-the consumers-see them, it is sensible to evaluate our MACRO-marketing system in terms of:
A. the level of consumer satisfaction.
B. how efficiently our resources are used.
C. the value of the inputs to the system.
D. our standard of living-as measured by GNI.
E. total business profits.
Q:
The best way to improve the operation of our MACRO-marketing system-given the current objectives of our society-is:
A. to encourage marketing managers to produce only what they feel is good for consumers.
B. to eliminate intermediaries.
C. to do better marketing strategy planning and implementation.
D. to spend more on advertising.
E. to move toward a command economy.
Q:
Pioneer has developed a new consumer electronics item-a heterogeneous shopping product with unique patented features. It probably should use a marketing mix of:
A. exclusive distribution, price cutting, reminder advertising, and a "push" policy.
B. exclusive distribution, penetration pricing, informative and persuasive advertising, and a "pull" policy.
C. selective distribution, skimming pricing, pioneering advertising, and a "push" policy.
D. selective distribution, penetration pricing, persuasive advertising, and a "pull" policy.
E. intensive distribution, persuasive advertising, price dealing, and a "push" policy.
Q:
__________ is one of the most criticized of all marketing activities.
A. Packaging
B. Advertising
C. Placement
D. Pricing
E. Production
Q:
Monopolistic competition-which is typical in our market-directed economy-is caused by:
A. manipulation of markets by business firms.
B. customer preferences.
C. consumers' unwillingness to pay for differentiated products.
D. business preferences.
E. None of these cause monopolistic competition.
Q:
Advertising can:
A. manipulate customers into buying a product.
B. raise the cost of producing a product.
C. assure a product does not fail.
D. prevent economies of scale in manufacturing.
E. increase demand for the product.
Q:
Michael Soles-owner of Soles Shoe Store-recently discovered that shoe stores in his trading area have an average markup of 40 percent. Upon investigation, Michael found that his average markup is $15 on shoes that he sells for $45. This suggests that:A. Michael has higher-than-average costs.B. Michael is pricing his products higher than his competitors.C. Michael is taking a smaller average markup than his competitors.D. Michael has a relatively high stockturn rate.E. Michael's markups in dollar amounts are about the same as his competitors.
Q:
Cost-oriented selling price per unit is obtained by adding a firm's desired profit per unit to the average total cost.
Q:
_____ means offering a specific price for each possible job rather than setting a price that applies for all customers.
A. Price lining
B. Odd-even pricing
C. Product bundle pricing
D. Bid pricing
E. Price leading
Q:
Price fixing is illegal under all circumstances in the United States.
Q:
The Robinson-Patman Act does permit some price differences-but they must be based on
A. cost differences.
B. the need to make profits.
C. accounting practices.
D. cartel requirements.
E. conscious parallel action.
Q:
Which of the following is true of a trade-in allowance?
A. It is a price reduction to stimulate sales of newly introduced products.
B. It allows managers to reduce the effective price without reducing the list price.
C. It forces managers to reduce the list price.
D. It is used to save old products from being removed from the market.
Q:
A(n) _____ involves making small payments for a product over timeusually with interest payments built in.
A. installment
B. rebate
C. investment
D. quantity discount
E. stocking allowance
Q:
_____ are the prices final customers or users are normally asked to pay for products.
A. Basic list prices
B. Discounts
C. Cost prices
D. Net prices
E. Payoffs
Q:
______________ advertising tries to develop goodwill for a company or even an industry-instead of a specific product.
A. Primary demand
B. Selective demand
C. Institutional
D. Persuading
E. Pioneering
Q:
When a firm spends its resources on advertising, publicity, and sales promotion, _____.
A. the results that are actually achieved through these activities are easy to measure
B. half of the money spent on these activities is wasted
C. the results achieved are even and highly predictable
D. only the channel members are motivated and not the final consumers
E. rarely fail to achieve objectives
Q:
Producers of consumer-packaged goods typically stop using sales promotion when their product-markets mature.
Q:
A company is planning sales promotion aimed at its consumers and distributors. What should the company do to effectively run its sales promotion?
A. The company should hire a recent business graduate, with no work experience, to manage its sales promotion.
B. The company should ask its sales or advertising managers to take the responsibility of sales promotion as well.
C. The company should hire outside consultants who are specialists in sales promotion to manage the task.
D. The objectives and policies of the sales promotion should be independent of the entire marketing strategy.
E. The company should target trade shows and price deals at its own sales force and training materials at its final consumers.
Q:
Social targeting involves analyzing customers' online activities to get detailed insight into their wants and needs.
Q:
Providing effective customer service is relatively simple-because it is usually clearer how to repair a negative experience than it is to provide an initial purchase experience that is satisfying to the customer.
Q:
Very large retail stores that carry not only foods-but all goods and services that consumers purchase ROUTINELY-are called:
A. supercenters.
B. general stores.
C. supermarkets.
D. mass-merchandisers.
E. department stores.
Q:
Many Internet retailing pioneers that had great ideas are not around today. Which of the following is a major reason for the failure of such Internet retailers?
A. Failure to develop whole marketing strategies that met customer needs
B. Widespread acceptance of the mass-merchandising concept by brick-and-mortar stores
C. Failure to maintain lower operating costs than brick-and-mortar stores
D. Growth in popularity of efficient delivery services from UPS and FedEx
E. Low consumer purchasing power
Q:
A(n) _____ is a blend of manufacturers' agent and selling agent-handling the entire export function for several producers of similar but noncompeting lines.
A. import broker
B. auction company
C. export broker
D. combination export manager
E. export or import agent
Q:
General merchandise wholesalers handle a wide variety of nonperishable items-and usually serve many different kinds of retail stores.
Q:
"Merchant wholesalers"-who take title to the products they sell-are the most common type of wholesaling establishment.